Reading-based consultancy receives £11.6 million investment

Active growing business investor BGF has invested £11.6 million in Reading-based Invenio. The UK-headquartered firm is a global provider of business-focused technology solutions and consulting services, and will use the funds to support its continued growth ambitions. Five consultancies and one law firm were involved in advising on either side of the deal process.

Founded in 2006 and headquartered in Reading, Invenio provides consulting services and technology solutions for organisations in the media, manufacturing & logistics, and public sector verticals. It has over 750 employees working for customers worldwide with delivery centres across the UK, India, Mauritius, Saudi Arabia, Fiji, UAE and USA. It delivers transformation projects and technology solutions to a global client base, including Universal Music Group, Kuehne & Nagel, the BBC and the Fijian and Saudi Tax authorities, while SAP named Invenio as a leading partner for tax and revenue management and the media industry.

Now, as Invenio looks to expand its global footprint, the technology solutions and consulting services provider has secured an investment of £11.6 million from BGF. The investor was established in 2011, and has since invested more than £1.8 billionn in over 260 companies, making it the most active investors in the UK and globally by number of transactions, while on average, it invested in one company per week over the course of 2018. The sum which Invenio has received from BGF will help the business scale by expanding its offering, improving its services and growing through acquisition.

BGF’s investment team was led by Alex Snodgrass, Jack Teasdale and Tim Rea. At the same time, six professional services firms advised on either side of the deal. Advisory and auditing firms Wilson Partners and Field Seymour Parkes advised BGF on the transaction, while Invenio was supported through the deal by advisors from consultancies PwC, CIL, RSM and legal firm WBD.

Arun Bala, CEO of Invenio, said, “Invenio was set up on the core values of exceptional customer focus, deep industry and technology expertise, transparency and employee care… We are delighted to have BGF on board for the next stage of our journey and are looking forward to making the most of the team’s expertise in this space. BGF’s investment will help us continue to invest and grow to meet demand, whilst keeping control of our business and staying true to our values.”

Alex Snodgrass, an investor at BGF who will join the board of Invenio, said, “Invenio is a fantastic, fast-growing business which has created a market-leading position and a loyal and constant customer base. Arun and the team have exceptional deep domain knowledge and experience, and we’re delighted to be a part of this exciting next step for Invenio as it grows to meet demand on a global scale.”